For most companies in the oil industry, drilling new wells is a major part of their business strategy. Today, we’re highlighting a firm that’s taking a very different tack.
Will Ulrich has served as co-CEO of Presidio Petroleum alongside his partner Chris Hammack, since founding the company in 2017. Presidio’s mission is to generate the oil industry’s best return on capital by delivering the industry’s lowest operating expenses, highest profitability and best emissions profile — all without doing any drilling.
Today, Will shares Presidio’s unique approach to value creation, their upcoming plan to go public via business combination, and the reasons why they’re optimistic for the future.
Highlights:
- Founding Presidio (1:57)
- Going Public (4:45)
- The end of the ‘Capital Intensive Shale Era’ (7:06)
- Institutional Backing (8:58)
- Dividend (10:46)
- Private Equity (13:58)
- Reducing Operating Costs (17:21)
- Field Incentive Plan (20:55)
- Stable Well Production (22:30)
- Hedging (23:42)
- CapEx (25:43)
- Acquisition Strategy (27:23)
- 5-year Outlook (29:17)
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If you have questions about the show, or have a topic in mind you’d like discussed in future episodes, email our producer, joe@lowerstreet.co.
